Blockchain Brilliance: A $2 Million Diamond Shines on Tiamonds October 5, 2023 October 5, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 5, 2023 by Kelly Cromley

Blockchain Brilliance: A $2 Million Diamond Shines on Tiamonds

In a remarkable fusion of the physical and digital worlds, a high-value diamond worth over $2 million is poised to make its debut on the blockchain. This exquisite gem, valued at $1.2 million, will be available for purchase on starting October 5, 2023, ushering in a new era of asset tokenization and trading. Tiamonds, a specialized marketplace, is leading the way in demonstrating how real-world assets (RWA) can be seamlessly integrated into the blockchain, offering a novel approach to asset ownership and exchange.

A Luxurious 10-Carat Diamond:

The star of this show is a 10-carat diamond, the most opulent gem ever to grace the Tiamonds platform. It will be available for sale at a price of 1,200,000 $USDT (equivalent to $1.2 million). The corresponding NFT serves as a digital certificate of ownership for the physical diamond, which is securely stored in highly fortified vaults nestled in the Liechtenstein Alps. These vaults not only boast robust security measures but are also fully insured and hold certifications from reputable institutions such as the Gemological Institute of America (GIA) and LCX as Physical Validators. This tokenization of the diamond is not a mere digital replication; it serves as a catalyst for seamless trade and transfer without the logistical challenges associated with physically moving the gem. This heralds a new era in the trading of real-world assets.

Unparalleled Quality and Purity:

Steven Gaertner, the head of Tiamonds, provided insight into the remarkable qualities of this D-color diamond. In the world of diamonds, this color grading signifies the highest level of whiteness, a characteristic highly esteemed by connoisseurs. Gaertner also emphasized the “internally flawless” clarity of the diamond, indicating unparalleled purity in gemological terms.

Choice Between Digital and Physical:

The appeal of this NFT extends beyond the digital realm. The owner has the option to retain the digital token or claim ownership of the physical diamond. Opting for the latter triggers the “destruction” of the NFT on the platform, facilitating the shipment of the precious stone to a designated address or its collection in person from Liechtenstein.

Tiamonds’ Track Record:

Tiamonds has already introduced 200 diamonds on its platform, with sales accounting for approximately 60% to 70% of the inventory. The range of available NFTs caters to a diverse spectrum of investors, with the most affordable tokens priced at just a few hundred dollars. This initiative reflects a broader vision of democratizing gem investments, making them accessible, transparent, and free from the traditional complexities associated with diamond trading.

Untapped Potential of Diamond Investments:

Monty Metzger, the founder of LCX, emphasized the untapped potential within the diamond industry. He noted that while the diamond industry represents a market worth $100 billion, investments in diamonds have reached a mere $2 billion to date. This stark contrast highlights the historical challenges of liquidity, high custody costs, and transportation expenses that have constrained the diamond market. However, the advent of asset tokenization promises to untether these constraints, offering a fluid marketplace that seamlessly blends the physical and digital realms.

A Shimmering Testimony to Blockchain Transformation:

The introduction of a $1.2 million diamond NFT on Tiamonds serves as a dazzling testament to the transformative power of blockchain technology in reshaping the landscape of asset ownership and trading. This endeavor reflects the limitless possibilities that await at the intersection of the tangible and digital realms, underpinned by the robust foundations of blockchain technology.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.